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Rich Asplund

Lackluster Rainfall in Brazil Boosts Arabica Coffee Prices

Ice Brazil United States Conab the USDA FAS Vietnam Rabobank United Kingdom Volcafe

July arabica coffee (KCN25) today is up +6.20 (+1.61%), and July ICE robusta coffee (RMN25) is not trading today with markets in the UK closed for the May Day holiday.

Arabica coffee today recovered from a 1-1/2 week low and is trading higher after below-normal rainfall in Brazil sparked short covering in coffee futures.  Somar Meteorologia reported today that Brazil's biggest arabica coffee growing area of Minas Gerais, received 1.5 mm of rain in the week ended April 26, or 21% of the historical average.  

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